Orrstown Financial Services, Inc. (NASDAQ:ORRF) Short Interest Update

Orrstown Financial Services, Inc. (NASDAQ:ORRF - Get Free Report) was the recipient of a large decrease in short interest in January. As of January 15th, there was short interest totalling 154,600 shares, a decrease of 16.4% from the December 31st total of 184,900 shares. Based on an average daily volume of 114,300 shares, the short-interest ratio is presently 1.4 days.

Institutional Investors Weigh In On Orrstown Financial Services

Institutional investors and hedge funds have recently bought and sold shares of the business. PL Capital Advisors LLC boosted its holdings in shares of Orrstown Financial Services by 3,561.0% during the fourth quarter. PL Capital Advisors LLC now owns 2,356,073 shares of the bank's stock valued at $86,256,000 after acquiring an additional 2,291,717 shares during the period. Fourthstone LLC lifted its position in Orrstown Financial Services by 223.8% in the 3rd quarter. Fourthstone LLC now owns 1,811,825 shares of the bank's stock valued at $65,153,000 after purchasing an additional 1,252,356 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Orrstown Financial Services by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 499,814 shares of the bank's stock valued at $13,674,000 after purchasing an additional 7,465 shares during the period. Geode Capital Management LLC grew its position in Orrstown Financial Services by 32.2% in the 3rd quarter. Geode Capital Management LLC now owns 434,228 shares of the bank's stock worth $15,617,000 after purchasing an additional 105,735 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Orrstown Financial Services by 12.8% in the third quarter. State Street Corp now owns 342,119 shares of the bank's stock valued at $12,303,000 after purchasing an additional 38,886 shares during the period. Institutional investors and hedge funds own 44.27% of the company's stock.

Orrstown Financial Services Stock Down 0.1 %

Shares of NASDAQ:ORRF traded down $0.03 during midday trading on Wednesday, reaching $34.30. The company had a trading volume of 86,981 shares, compared to its average volume of 114,556. Orrstown Financial Services has a one year low of $24.70 and a one year high of $41.99. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $665.08 million, a P/E ratio of 18.64 and a beta of 0.90. The stock's fifty day moving average price is $36.84 and its 200-day moving average price is $36.28.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last issued its earnings results on Friday, January 31st. The bank reported $0.87 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.17). Orrstown Financial Services had a return on equity of 15.77% and a net margin of 7.70%. Equities research analysts expect that Orrstown Financial Services will post 4.37 earnings per share for the current fiscal year.

Orrstown Financial Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 14th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.03%. This is a boost from Orrstown Financial Services's previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, February 14th. Orrstown Financial Services's dividend payout ratio is 50.00%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ORRF shares. Piper Sandler started coverage on Orrstown Financial Services in a research report on Wednesday, January 8th. They set an "overweight" rating and a $43.00 price target on the stock. Keefe, Bruyette & Woods restated an "outperform" rating and issued a $42.00 target price (down from $46.00) on shares of Orrstown Financial Services in a research note on Monday. Finally, Hovde Group downgraded shares of Orrstown Financial Services from an "outperform" rating to a "market perform" rating in a research note on Wednesday, November 13th.

Orrstown Financial Services Company Profile

Orrstown Financial Services, Inc operates as the financial holding company for Orrstown Bank that provides commercial banking and financial advisory services to retail, commercial, non-profit, and government clients in the United States. It accepts various deposits, including checking, savings, time, demand, and money market deposits, as well as certificates of deposit.